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PASOK Slides Toward Bankruptcy

0B65413BFEAA77F99BF75E509BEF5A99Once a ruling heavyweight in Greek politics, as recently as 2009 when it won the elections with 44 percent of the vote, the PASOK Socialist party – down to 5 percent territory after backing austerity measures – is also in danger of going broke.
According to I Efimerida ton Sintakton. chaos has overtaken the party now in the hands of Evangelos Venizelos,  as the owner of the building where the party’s offices are located is upset that the rent hasn’t been paid for a long time.
PASOK reported only has 100,000 euros ($130,000) after millions went missing when former premier George Papandreou was the party leader.  Even that is going to be seized by a court ruling, it was said.
The party also owes scores of millions to Greek banks in loans it has stopped paying while Venizelos is opposing legislation that would give Greeks hit by pay cuts, tax hikes and slashed pensions more time to their loans, mortgages and credit cards.
The paper said that Venizelos,  after hearing the news, suggested that the party should go bankrupt and ceases to exist in order to be freed from all its debts. PASOK, along with the tiny and fading Democratic Left (DIMAR) is a partner in Prime Minister and New Democracy Conservative leader Antonis Samaras’ government.
The party answered to the scenarios of its dissolution that are published in the media with a press release: “PASOK has publicly and openly expressed its views concerning these issues at the recent meetings of the Political Council and the central Political Committee. What was then decided is already put into place.” It was unclear what the vague wording meant.

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